Published: February 21, 2011 at 11:30 am

John Griffin, 47, was second in command at Julian Robertson’s Tiger Management. He launched Blue Ridge Capital in 1996. John Griffin was one of the top hedge fund managers in 2007, returning 65% and pocketing $625 Million. He also made $175 Million in 2005. Blue Ridge Capital lost only around 8% in 2008. John Griffin was probably hurt by his short positions in 2009, returning only 7.7%. His three year average return was 17.83% at the end of 2009.

His investment style is similar to other Tiger cubs who are long/short equity investors with a long bias. We don’t know John Griffin’s returns in 2010, but 43 stocks that are in his 13F portfolio at the end of 2009 returned 14.6%, underperforming S&P 500’s 15.1% 2010 return. Considering he isn’t usually 100% long, Blue Ridge probably had a mediocre year.

During the fourth quarter John Griffin added 9 stocks to his portfolio. Here is how they performed:

John Griffin also added to some of his positions which performed unbelievably. Netflix (NFLX), Valeant Pharmaceuticals (VRX), and Ivanhoe Energy (IVAN) returned at least 28% each since the end of 2010. It seems John Griffin is getting his groove back in 2011. Here are his top 40 stock holdings:

Company

Ticker

Return

Value (Million)

AMAZON COM INC

AMZN

3.6%

382

APPLE INC

AAPL

8.7%

364

JPMORGAN CHASE & CO

JPM

13.3%

361

MARKET VECTORS ETF TR

GDX

-4.1%

307

EXPRESS SCRIPTS INC

ESRX

5.0%

274

VALEANT PHARMACEUTICALS INTL

VRX

43.1%

246

BP PLC

BP

9.5%

222

CITRIX SYS INC

CTXS

6.2%

210

CROWN CASTLE INTL CORP

CCI

-0.1%

210

DOLLAR TREE INC

DLTR

-6.0%

209

WESTERN UN CO

WU

16.6%

187

THERMO FISHER SCIENTIFIC INC

TMO

4.2%

186

CIT GROUP INC

CIT

-8.1%

181

TEVA PHARMACEUTICAL INDS LTD

TEVA

0.0%

179

RANGE RES CORP

RRC

7.4%

175

CME GROUP INC

CME

-5.9%

163

DISCOVERY COMMUNICATNS NEW

DISCA

5.3%

161

BLACKROCK INC

BLK

8.4%

152

MICROSOFT CORP

MSFT

-2.5%

149

COVANTA HLDG CORP

CVA

-0.9%

149

BANCO SANTANDER BRASIL SA

BSBR

-7.9%

145

CREDICORP LTD

BAP

-14.9%

144

TD AMERITRADE HLDG CORP

AMTD

14.9%

131

GOLDMAN SACHS GROUP INC

GS

-0.1%

131

NETFLIX INC

NFLX

34.0%

125

DISCOVERY COMMUNICATNS NEW

DISCK

6.4%

116

CABLEVISION SYS CORP

CVC

11.2%

111

MGIC INVT CORP WIS

MTG

-8.4%

101

LIBERTY GLOBAL INC

LBTYA

19.2%

98

GENERAL GROWTH PPTYS INC NEW

GGP

1.8%

92

ARES CAP CORP

ARCC

6.9%

88

LIBERTY MEDIA CORP NEW

LSTZA

8.2%

84

NVR INC

NVR

9.2%

72

NRG ENERGY INC

NRG

6.9%

69

ECHOSTAR CORP

SATS

33.8%

66

IVANHOE MINES LTD

IVN

20.8%

61

GENERAL MTRS CO

GM

-0.9%

55

NOVAGOLD RES INC

NG

0.9%

55

STARWOOD HOTELS&RESORTS WRLD

HOT

7.1%

49

SOHU COM INC

SOHU

32.1%

49

These 40 stocks account for 96% of Blue Ridge Capital’s portfolio. Their weighted average return since the end of December is 6.4%, underperforming SPY’s 7% return. It seems John Griffin’s long term holdings that are unchanged or reduced caused his returns to lag the market. He has such a diverse portfolio that it isn’t surprising that his return isn’t much different from the market’s. His best performing stock was VRX, which is also in Andreas Halvorsen’s portfolio. He doesn’t have any Citigroup, Bank of America, and Wells Fargo shares, but he has JP Morgan (JPM) and Blackrock (BLK) in his portfolio. Bill Miller, Lee Ainslie, Joseph DiMenna, and Stephen Mandel have JP Morgan in their portfolios. Lee Ainslie’s Maverick, John Burbank’s Passport Capital, and Andreas Halvorsen’s Viking Global are other high profile Blackrock investors.

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